1693 Fairfield Terrace is a lot that was purchased last year for about $135k. What would a new single story home likely value for today in this area?

Asked by tomwilk2, Henderson, NV Sun Feb 16, 2014

This question was asked from http://www.trulia.com/homes/Nevada/Henderson/sold/463951-179…

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Susan Frush-Feller’s answer
Susan Frush-…, Agent, Henderson, NV
Mon Feb 17, 2014
Hi Tom. I also believe that the “lot” you’re referring to is located at 1893 Fairfield Terrace. This was an “odd” lot as all the other lots in this guard gated community were sold and built on some time ago (1990-1997). The most recent sale in this neighborhood was a 4,121 sq. ft. home, built in 1990 with a pool that sold for $400,000; however this was a short sale that went into escrow mid 2012 and finally closed in March 2013. Regarding price, not only did the “sold” home back to a busy street (which would reduce the value) but homes have considerably increased in price since this transaction took place. The last one story home (3,367 sq. ft.) closed in October 2013 for $459,700 (asking $495,500). There is currently a 2,971 sq. ft. one story home in escrow in this subdivision that is due to close at the end of this month. This home is a short sale and the listed price is $310,000; however I won’t know the “sold” price until after it closes. If I can be of any further assistance, please feel free to call me at (702) 321-0131 or email me at sffeller1@gmail.com and I will be very happy to answer any questions you might have.

Susan Frush-Feller, SFR, CDPE
Realty One Group
2831 Saint Rose Parkway #100
Henderson, NV 89052
Phone: (702) 321-0131
Email: sffeller1@gmail.com
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rrebarchik, Home Owner, Mississippi State, MS
Sun Feb 16, 2014
Good afternoon..

It appears it might be 1893 Fairfield Terrace that you are referencing in Hillsboro Heights community.. If that is the case, and it does appear to be a sold lot (previous sub-divide).

The comps around the 3000 sq. ft. range for about .25 lot size is anywhere from $425-460k. However, a new house would garner even more value as the last home is this community appears to have been built around 1999 and they are all custom homes. Hence, a single story home today is probably in the area of $130-135 p/sq.foot. Possibly in the $550-570 range for a new custom build (possibly even more).
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